On Tuesday, the White House announced that it would move ahead with 25 percent tariffs on $50 billion worth of Chinese imports. In a statement, President Donald Trump said “from now on, we expect trading relationships to be fair and to be reciprocal.” The White House blamed the tariffs
On Tuesday, the White House announced that it would move ahead with 25 percent tariffs on $50 billion worth of Chinese imports.
In a statement, President Donald Trump said “from now on, we expect trading relationships to be fair and to be reciprocal.” The White House blamed the tariffs on “years of unfair trade practices” by China. A full list of which imports will be included in the tariff will be released on June 15.
In addition to the tariffs, the U. S. will also “implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology.”
On April 3, the White House released a list of 1,300 Chinese products worth around $50 billion that could potentially be hit by tariffs. China quickly responded with a list of 106 U. S. products, also worth $50 billion, on which it would potentially slap sanctions.
The products targeted by the proposed sanctions by China include products like soybeans, corn, beef, whiskey, propane, and automobiles.
